March 10: The shift in focus from computers and computer peripherals to software development has given a shot in the arm to Aftek Infosys - the stock has risen spectacularly from two-digits to its current four-digit level. A relatively unknown stock before the private placement with NH Securities, Aftek Infosys shot into the limelight after its impressive showing in Q1 2000. The stock currently trades on the Mumbai Stock Exchange at Rs 4900.As much as 70 per cent of Aftek's revenues come from software services, embedded products account for 26 per cent. In software services, Aftek specialises in offering systems, embedded and web-related work executed on an offshore basis. In the products segment, the company has developed add-on cards, a library management system as well as a barcode software.
The company is, however, known for its personal data assistant (PDA) machines, which find extensive usage in para-banking outfits (like co-operative banks) as well as public transportation for remote data collection. The BEST buses in Mumbai use these PDA machines. In the first-half of FY 2000, the company earned an income of Rs 9.12 crore and a net profit of Rs 3.56 crore. On an equity base of Rs 5.74 crore, the annualised earnings per share (EPS) works to Rs 12.40.
The rally in the counter in the last one month has been attributed to the decision of the Calcutta HC allowing Aftek to use `Infosys' in its registered name (the IT major, Infosys Technologies, had filed a writ petition against Aftek).
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.